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Jack purchased a ten-year $1000 bond with quarterly coupons for $900.The bond had a $1100 redemption...

Jack purchased a ten-year $1000 bond with quarterly coupons for $900.The bond had a $1100 redemption payment at maturity, a nominal coupon rate of 8% for the first five years, and a nominal coupon rate of q% for the final five years. Jack calculated that his annual nominal rate of return was9.6%. Find q.

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